Tag: business studies

Questions Related to business studies

Final accounts of companies are prepaid according to_________of the companies Act,2013.

memorandum of understanding and articles of association company business studies

  1. Schedule VI

  2. Schedule V

  3. Schedule II

  4. Schedule III

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Correct Option: D

Power/ duties of Auditors apply _______to Company Secretary in Practice conducting secretarial audit.

memorandum of understanding and articles of association company business studies

  1. Mutatis Mutandis

  2. Mutains Mutandis

  3. Mutatis Mutantis

  4. None of the above

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Correct Option: A

The 'Doctrine of Indoor Management' provides protection to the ___________.

memorandum of understanding and articles of association company business studies

  1. Board of Directors

  2. Shareholders

  3. Managing Director

  4. Outsiders

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Correct Option: D
Explanation:

In simple words, the doctrine of indoor management means that a company's interior associations are the company's difficulty. As a result, this regulation of interior organization is important to people dealing with a company through its directors or other persons. 

Where the doctrine of productive notice protects a company against outsiders, the doctrine of indoor management protects outsiders against the actions of a company. This doctrine also is a feasible safeguard against the possibility of abusing the doctrine of productive notice.

Thus, the correct option is D.

A company can change its name, by passing _________.

memorandum of understanding and articles of association company business studies

  1. ordinary resolution

  2. special resolution

  3. board resolution

  4. none of the above

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Correct Option: B

Which is NOT a feature of an incorporated company?

memorandum of understanding and articles of association company business studies

  1. Transferability of shares

  2. Limited liability

  3. Common seal

  4. It is an agent

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Correct Option: D

Dividend of a company is declared in _________.

memorandum of understanding and articles of association company business studies

  1. statutory meeting

  2. extra ordinary general meeting

  3. annual general meeting

  4. none of the above

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Correct Option: C

Below mentioned are factors that have allowed small companies to act like they are big ones. Pick the right one.

memorandum of understanding and articles of association company business studies

  1. Competition

  2. Economic development

  3. Both a and b

  4. Technology

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Correct Option: C

The persons who are in charge of the management of affairs of a company are termed as directors. They are collectively known as ________.

memorandum of understanding and articles of association company business studies

  1. shareholders

  2. employees

  3. board of directors

  4. either a or b

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Correct Option: C
Explanation:
Section 2(10) of the Companies Act, 2013 defined that Board of Directors or Board, in relation to a company, means the collective body of the directors of the company.

What is full form of CSR?

memorandum of understanding and articles of association company business studies

  1. Corporate social responsibility

  2. Company sales revenue

  3. Company social responsibility

  4. None of the above

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Correct Option: A

Which of the following cases clearly established that 2 company has a separate legal entity?

memorandum of understanding and articles of association company business studies

  1. Salomon v Salomon and Co. Ltd.

  2. Sultan and Co. Ltd. v Sultan

  3. Connors Bros v Connors

  4. FOSS V Harbottle

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Correct Option: A